The lucrative New York sports betting market is on the verge of tightening its grip on the national gambling scene. New York Assembly Racing and Wagering Committee chair Carrie Woerner (D-113) on Feb. 25  introduced Assembly Bill A6013, which calls for several major changes to the N.Y. sports betting landscape. Not only would the bill, if approved, increase the number of available sports betting operator licenses, but it would cut New York’s nation-leading 51 percent tax rate to 25 percent. Details of the bill As outlined by Legal Sports Report, New York’s current sports betting framework only allows for nine licensed operators. Woerner’s framework would nearly double that, allowing 16 separate operators to conduct business inside state lines. The bill also requires that New York have 14 active sports betting operators by Jan. 21, 2026, and 16 active operators by Jan. 31, 2027. The New York State Gaming Commission would be in charge of vetting applications via a public process. Licenses would cost $50 million and would be awarded on a rolling basis to accelerate the transition to a more robust sports betting market. Additionally, any operators who were denied licenses upon previous attempts would be eligible for a fresh slate and attempt at licensing. To accommodate the transition in tax rates, the bill also details a plan to gradually decrease the tax standard in accordance with the amount of licensed operators. While the state has 10-12 licensed operators, the tax rate would remain at 50 percent. It would decrease to 35 percent for 13-14 operators and to 25 percent once the state commission licensed 15 or more operators. In the event the state loses any operators, the bill also outlined different tax thresholds for eight, seven, six, and four-five operators, with the maximum rate reaching 64 percent.  New York’s continued growth New York already has the most lucrative sports betting market in the country. The Empire State generated $2.05 billion in revenue and accepted $22.7 billion in wagers in 2024, both the highest amounts of any state, per a state commission gaming report. For comparison, Illinois had the second-highest handle at $14 billion or 61.7 percent of New York’s total. New York sportsbooks include Bally Bet, BetMGM, BetRivers, Caesars, DraftKings, ESPN Bet, Fanatics, FanDuel, and Resorts World Bet. ESPN Bet was the most recent addition of those. PENN Entertainment, its operating company, purchased WynnBet’s licenses for $25 million and launched in Sept. 2024. The state’s market has increased its handle, revenue, and tax generation totals every year since it launched in 2022. It also created more than $1 billion in sports betting tax funding last year -- a near-21 percent increase compared to the total reported for 2023. Notable sports betting brands not licensed as New York sportsbooks include bet365, Betr, Hard Rock Bet and Underdog, among others. Woerner also told City & State New York that officials will consider adding online casinos to the state’s gambling market. New York potentially slashing its tax rate flies in the face of what is happening in neighboring New Jersey.  A recent Legal Sports Report article detailed Gov. Phil Murphy’s plan to increase New Jersey sports betting and online casino tax rates from 13 and 15 percent respectively to 25 percent each.